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Unicom Denies Plans for Post-Restructuring Layoffs

The Beijing News, 7/18/08

A senior executive at China Unicom (NYSE: CHU; 0762.HK; 600050.SH) has denied rumors that China Unicom and China Netcom (NYSE: CN; 0906.HK) will make significant lay offs after the industry restructuring, and said that according to relevant regulations under the new Labor Law, China Unicom will neither make direct layoffs, nor adopt indirect measures, such as requiring employees to retire early.

Editor's Note: For more background on this topic, please see "New Unicom to Streamline Organizational Structure", MD 7/17/08 issue.

Keywords: HR 0762.HK 0906.HK 600050.SH China Netcom China Unicom CHU CN Labor Law restructuring telecom wireless

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